IPF2 - International Personal Finance 7.75% 14.12.23

[kempiejon]

12 % 12 December 2027 and a 1.5% incentive to switch from the 2023s. Offer open until 6 December but I don't think I will need that long to decide!
https://www.londonstockexchange.com/new ... r/15716921

I have my IPF2 with Hargreaves Lansdowne, I might consider swapping some but I have a planned need for cash in April 24 and had earmarked some of the holding for that and so far HL haven't offer the new bond.
AJ Bell, where I have free cash, are offering new applicantions for the 12% so I might keep the IPF in HL and buy 12% in AJB.

[air04]

I have my IPF2 with Hargreaves Lansdowne, I might consider swapping some but I have a planned need for cash in April 24 and had earmarked some of the holding for that and so far HL haven't offer the new bond.
AJ Bell, where I have free cash, are offering new applicantions for the 12% so I might keep the IPF in HL and buy 12% in AJB.

I may have missed out something obvious. Why not buy IPF2 in AJBell, and swap it for 12%, in that way you can get 1.5% too

[Gan020]

HL always take 3-4 days longer than AJ Bell to offer bonds.

(I can't really understand why but that's their routine)

[kempiejon]

I have my IPF2 with Hargreaves Lansdowne, I might consider swapping some but I have a planned need for cash in April 24 and had earmarked some of the holding for that and so far HL haven't offer the new bond.
AJ Bell, where I have free cash, are offering new applicantions for the 12% so I might keep the IPF in HL and buy 12% in AJB.

I may have missed out something obvious. Why not buy IPF2 in AJBell, and swap it for 12%, in that way you can get 1.5% too

Now that is a good thought thank you, HL is a SIPP and AJB an ISA and I can't add more money and there's less uninvested cash in AJB than I already have in IPF2 so I'll juggle the numbers.

[stevensfo]

12 % 12 December 2027 and a 1.5% incentive to switch from the 2023s. Offer open until 6 December but I don't think I will need that long to decide!
https://www.londonstockexchange.com/new ... r/15716921

Very strange. I hold IPF2 in AJBell and have received no news about the new offer. However, the 'Cost' column for IPF is now a box showing 0.00 that can be edited.

Steve

[BullDog]

12% interest. What could possibly go wrong there then? (I actually know nothing of this company or it's activities, excuse me if my reaction is too harsh).

[genou]

12 % 12 December 2027 and a 1.5% incentive to switch from the 2023s. Offer open until 6 December but I don't think I will need that long to decide!
https://www.londonstockexchange.com/new ... r/15716921

Very strange. I hold IPF2 in AJBell and have received no news about the new offer. However, the 'Cost' column for IPF is now a box showing 0.00 that can be edited.

Steve

I got the Corporate Action today from AJBell, so they seem to be doing it in tranches.

[stevensfo]

12 % 12 December 2027 and a 1.5% incentive to switch from the 2023s. Offer open until 6 December but I don't think I will need that long to decide!
https://www.londonstockexchange.com/new ... r/15716921

Very strange. I hold IPF2 in AJBell and have received no news about the new offer. However, the 'Cost' column for IPF is now a box showing 0.00 that can be edited.

Steve

I got the Corporate Action today from AJBell, so they seem to be doing it in tranches.

Thanks. I just received it now.

But I was confused by the editable 00.00 shown in the Cost column.

I set it to the correct cost (what I paid at the IPO) but I'm wondering if I did the right thing. There was no explanation and nothing on their search engine.


Steve

[88V8]

The offer appeared in ii.
I have exchanged all mine.

V8

[Alaric]

I wondered what International Personal Finance did and why it needed to borrow.

It seems that it's a lender to those with poor credit by conventional standards operating mostly in Eastern Europe and Mexico. As such the business model looks similar to Provident Financial complete with door to door collection, but operating outside the UK so the FCA won't be throwing its oar in.

[88V8]

I wondered what International Personal Finance did and why it needed to borrow.
It seems that it's a lender to those with poor credit by conventional standards operating mostly in Eastern Europe and Mexico. As such the business model looks similar to Provident Financial complete with door to door collection, but operating outside the UK so the FCA won't be throwing its oar in.

Yes, is it a parasite sucking on the poor, or a preferable alternative to backstreet mafia... it seems there will always be a demand for this type of service, sometimes when investing one just has to hold one's nose.

V8

[stevensfo]

I wondered what International Personal Finance did and why it needed to borrow.
It seems that it's a lender to those with poor credit by conventional standards operating mostly in Eastern Europe and Mexico. As such the business model looks similar to Provident Financial complete with door to door collection, but operating outside the UK so the FCA won't be throwing its oar in.

Yes, is it a parasite sucking on the poor, or a preferable alternative to backstreet mafia... it seems there will always be a demand for this type of service, sometimes when investing one just has to hold one's nose.

V8

Any oar the FCA could throw in would very likely be made of soft foam!

Re. IPF, maybe it's better that this service is being performed by a registered company, rather than the likes of Doug and Dinsdale Piranha?

Steve

[MickR]

does anyone know if you can still get hold of IPF2 and get the option to convert?

[88V8]

does anyone know if you can still get hold of IPF2 and get the option to convert?

Better call your broker and ask.
The response deadline on ii is tomorrow.

V8

[Surerera]

AJ Bell haven't even given me the option to convert, just as well I don't want to.

[stevensfo]

AJ Bell haven't even given me the option to convert, just as well I don't want to.

I noticed the same. However, on the home page, if you go to IPOs, the conversion is advertised and you have the chance to do it.

Then, a few days ago, I finally received the offer.

The communication in this case has been dreadful!

Steve

PS I decided to convert.

[Surerera]

Thanks stevensfo, I've just noticed you can buy 100,000 IPF2 online at 99.5 and the best bid is only for 7,500.